Gregory's Server@rbreich in Dutch we have a new word for that, "graaiflatie", it translates as grabflation in English. It was voted word of the year in Both the Netherlands and the Dutch speaking part of Belgium.
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@luciedigitalni @Libby_ @rbreich it used to be called “price fixing” but i guess that has too many negative connotations that people are afraid to say it out loud?  @luciedigitalni @Libby_ @rbreich collusion was recently proven. it’s just laundered with “algorithms” @luciedigitalni @Libby_ @rbreich like… if you have a computer program to change your store prices the microsecond your competition does, is an actual conversation to agree to do that needed? @luciedigitalni @Libby_ @rbreich you’d expect a functioning FTC or ACCC to be investigating it and cracking down but i haven’t heard of them doing anything @zens @Libby_ @rbreich the ACCC has been doing some good work over a number of years looking at the market power of 'large digital platforms'. I believe they're starting a detailed review of supermarket pricing right now. I also understand the FTC is getting active too - Cory Doctorow has written about that quite a bit lately @luciedigitalni @Libby_ @rbreich that’s nice , would be nicer if they could get on with it cos, while i can absorb the increased price of living with some discomfort, they’re also exploding the costs on bare essentials, which strikes me as broadly equivalent to a eugenics project for folks who are not as lucky as me @zens @Libby_ @rbreich https://www.accc.gov.au/inquiries-and-consultations/supermarket-sector-inquiry-2024-25 if you have time you should write a submission |
@Libby_ @rbreich we use greedflation in Australia